Edtech major Byju’s to raise $700 million in fresh funding round this month

In its latest funding round, edtech major and India’s biggest unicorn Byju’s is set to raise around $500-$700 million at a flat valuation of $22 billion. The round will be led by a couple of top private equity firms and sovereign wealth funds, a report by IANS said on Tuesday. The round can happen anytime soon this month.

The funding round, anticipated for quite some time amid the deepening funding winter, will help Byju’s pay off some of its existing debt and consolidate and grow its business further, according to people privy to the development.